Date of entry: 20 Sept 2010
Long CPO At Sky High Price!
I longed CPO Dec 2010 Future Contract at 2711. I wanted to long at the open but I waited till it went higher than the opening price; 2700 then I initiated my long position. It is a strong gap up, what can I say!
By the way, Bean oil future (project A) is currently up by 0.81 to 42.72. Crazy Market!
Date of exit: 21 Sept 2010
Stop Loss Hit Yesterday
I was stopped out at 2678 losing 35 points with 2 points commission included. This deal was done yesterday late evening and I was not aware of it till this morning before the market open. My broker did not call me.
The balance of my account is RM 26,000 after the loss of RM 875 (35points x RM25 x1contract = RM875) (The details of my account is at My Future Trading Account Records 2010 )
You are quite daring these days after making string of profit !
ReplyDeleteGap-up like this is normally not good for trading.
Fred.
Hi Fred,
ReplyDeleteYou are right, the risk is high buying at gap-up price. I actually place my stop loss tight too just in case the market goes against me.
Thank you for your comment.
Abel
Fred, I am not agree with you. Usually gap up or gap down are good for trading. It signifies a trend is building enough momentum to move in one direction.
ReplyDeleteCK Tam
Hi Abel,
ReplyDeleteI agree with gap up is good for trading. Throughout the day, FCPO is supported well above 2700, as long as it doesnt break below 2700, u can get good pocket money.
Hi,
ReplyDeleteRight, the price stayed well above opening price 2700 and closed at 2708. Tomorrow movement will decide on the direction.
Thanks
Abel
CK Tam,
ReplyDeleteI disagree with your comments. There are 3 type of Gaps, in case you don't know.
Chun